Wait! Don’t Make A Huge Financial Mistake…Be Sure To Read This Before You Refinance Your Home…

With all the talk of loan modifications and people trying to refinance to a lower rate, the Mortgage Fitness Checkup is an absolute must for someone considering such options. Does it really make sense to modify your loan or refinance it? Sometime yes and many times NO!

What I have found is people think just because they can lower their interest rate 1% and/or their payment they think that is a wise financial thing to do. TRUTH IS, many times it is absolutely foolish to refinance to a lower rate. Why is that you ask?

When most people refinance they start back over with the same term loan, thereby throwing away every dime they have paid towards their mortgage so far, minus what little has gone to principle. This is likely tens of thousands of dollars and perhaps a lot more.

When you refinance to the same term, even with a lower interest rate, you very well could be paying more in interest than you were currently and have less going towards principle.

Those are just a couple of reasons why you should consider getting The Mortgage Fitness Checkup.